CBIC clarifies on TCS collection by Tea Board of India

CBIC clarifies on collection of Tax at Source (TCS) by Tea Board of India; States that Tea Board of India, being the operator of the electronic auction system for trading of tea across the country including collection and settlement of payments, falls under the category of electronic commerce operator liable to collect TCS u/s 52 of the CGST Act, 2017; Observes that the buyers in the auction make payment of a consolidated amount to an escrow Account maintained by the Tea...